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Mortgages and Consumer Loans Up in October

November 26, 2021 – Ana Custódio

The issuance of mortgages and consumer loans to individuals continued to accelerate.

The Bank of Portugal has just published updated statistics on bank loans and deposits of companies and individuals for October 2021. According to the analysis, mortgages and consumer loans to individuals continued to accelerate in October.

Lending to households continued to grow last month.  The issuance of mortgages grew by 4.4 per cent year on year.  The figure rose to €96.3 billion (vs a 4.3% increase in the previous month), while consumer loans grew by 1.7% compared to October 2020, to €19.2 billion (they had grown by 1.5% during the last month).

The Bank of Portugal’s analysis also showed that loans to accommodation and food service companies grew the most since the pandemic began due to the government’s financial support policies.

Translation: Richard D K Turner